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(Reuters) The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide. New investments could support millions of new jobs in construction and manufacturing, but policymakers are struggling to decide whether to recover the costs from consumers or... Continue Reading →
Wintershall Dea posted a jump in first-quarter financial results thanks to record production and recovering oil and gas prices, the German-Russian producer said on Tuesday. Its earnings before interest, tax, depreciation, amortization, and exploration expenses (EBITDAX), a standard oil industry measure, rose to 704 million euros ($850.22 million) in the three-month period, up 47% year-on-year.... Continue Reading →
(TNPetroleo) Government representatives, MME's Secretary of Petroleum and Natural Gas, José Mauro Ferreira Coelho, and the director general of ANP, Rodolfo Saboia, defend the program for the sale of the Petrobras refineries. "We think that divestment in refining is fundamental to create the new market," said Coelho. The secretary argues that, without new investments in... Continue Reading →
( TNPetroleo) Pre-Sal Petróleo (PPSA) is holding an international bidding this Wednesday, the 28th, at 10 am, for the contracting of a trading agent for the Union share of oil from the Individualized Area of Tupi. The contract will run for five years and is expected to sell 4 million barrels of oil at an... Continue Reading →
(OE) U.S. oil major ExxonMobil said on Tuesday it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels, ExxonMobil said. Drilling at Uaru-2 encountered... Continue Reading →
Energy transition company Technip Energies has agreed to buy €20 million (approx $24.2 M) equivalent of its own shares from TechnipFMC. In February 2021, TechnipFMC and Technip Energies were separated as two independent, publicly traded companies. Technip Energies deals in LNG, hydrogen, and ethylene as well as blue and green hydrogen, sustainable chemistry, and CO2 management,... Continue Reading →
Offshore drilling contractor Seadrill has secured a four-year firm contract with four one-year options, for the West Saturn drillship with Norwegian oil major Equinor in Brazil. Seadrill said on Tuesday that the contract was awarded by Equinor’s subsidiary Equinor Brasil Energia Ltda for work on the Bacalhau offshore field. The total value for the firm... Continue Reading →
Independent oil and gas exploration and production company PetroNor has received the necessary approvals for the acquisition of high potential acreage offshore Guinea-Bissau through the buy of SPE Guinea Bissau AB. PetroNor said on Monday that approvals were a condition necessary to complete the transaction. Consequently, the transaction will complete as per the terms of... Continue Reading →
(Moody's Investor Service) The outlook for the global energy industry has been changed to positive from stable, Moody's Investors Service says in research published Monday. A sustained uptick in commodity prices on the back of a recovering global economy is set to bolster a turnaround in industry fundamentals over the coming 12 to 18 months.... Continue Reading →
Energy group BP (BP.L) said on Tuesday it expects to have hit its $35 billion net debt target in the first quarter of this year, sooner than expected and paving the way for it to deliver on its promise of buying back shares. "This is a result of earlier than anticipated delivery of disposal proceeds combined with... Continue Reading →
